SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth certain information for each reportable segment:

I. For the Three Months Ended June 30, 2024

	Three Months Ended June 30, 2024
			Ports and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Revenues
Total revenues	$	45,638	$	21,174	$	3,862	$	—	$	—	$	14,213	$	84,887
Expenses
Operating expenses	23,701		17,975		5,598		330		7		13,614		61,225
General and administrative	—		—		—		—		—		2,840		2,840
Acquisition and transaction expenses	153		8		—		398		—		362		921
Management fees and incentive allocation to affiliate	—		—		—		—		—		2,776		2,776
Depreciation and amortization	4,860		12,300		2,480		—		—		523		20,163
Total expenses	28,714		30,283		8,078		728		7		20,115		87,925
Other (expense) income
Equity in (losses) earnings of unconsolidated entities	—		—		—		(7,336)		(5,464)		12		(12,788)
Loss on sale of assets, net	(150)		—		—		—		—		—		(150)
Loss on modification or extinguishment of debt	—		(9,170)		—		—		—		—		(9,170)
Interest expense	(98)		(11,190)		(242)		—		—		(18,160)		(29,690)
Other income	251		3,531		—		2,891		290		—		6,963
Total other income (expense)	3		(16,829)		(242)		(4,445)		(5,174)		(18,148)		(44,835)
Income (loss) before income taxes	16,927		(25,938)		(4,458)		(5,173)		(5,181)		(24,050)		(47,873)
Provision for (benefit from) income taxes	1,092		(612)		(25)		—		—		(188)		267
Net income (loss)	15,835		(25,326)		(4,433)		(5,173)		(5,181)		(23,862)		(48,140)
Less: Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	47		(11,174)		(273)		—		—		—		(11,400)
Less: Dividends and accretion of redeemable preferred stock	—		—		—		—		—		17,610		17,610
Net income (loss) attributable to stockholders	$	15,788	$	(14,152)	$	(4,160)	$	(5,173)	$	(5,181)	$	(41,472)	$	(54,350)

	Three Months Ended June 30, 2023
			Port and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Revenues
Total revenues	$	42,546	$	17,104	$	3,947	$	—	$	—	$	18,235	$	81,832
Expenses
Operating expenses	22,257		15,990		5,776		173		28		18,551		62,775
General and administrative	—		—		—		—		—		3,702		3,702
Acquisition and transaction expenses	184		36		—		49		—		367		636
Management fees and incentive allocation to affiliate	—		—		—		—		—		3,084		3,084
Depreciation and amortization	5,125		12,144		2,281		—		—		742		20,292
Asset impairment	602		—		—		—		—		—		602
Total expenses	28,168		28,170		8,057		222		28		26,446		91,091
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	—		—		—		1,639		(3,277)		13		(1,625)
(Loss) gain on sale of assets, net	(85)		732		—		—		—		—		647
Interest expense	(1,215)		(7,978)		(615)		(1)		—		(14,373)		(24,182)
Other (expense) income	(544)		(349)		—		1,643		620		—		1,370
Total other (expense) income	(1,844)		(7,595)		(615)		3,281		(2,657)		(14,360)		(23,790)
Income (loss) before income taxes	12,534		(18,661)		(4,725)		3,059		(2,685)		(22,571)		(33,049)
Provision for (benefit from) income taxes	720		152		40		—		—		(89)		823
Net income (loss)	11,814		(18,813)		(4,765)		3,059		(2,685)		(22,482)		(33,872)
Less: Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	28		(10,048)		(255)		—		—		(1)		(10,276)
Less: Dividends and accretion of redeemable preferred stock	—		—		—		—		—		15,257		15,257
Net income (loss) attributable to stockholders	$	11,786	$	(8,765)	$	(4,510)	$	3,059	$	(2,685)	$	(37,738)	$	(38,853)

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to stockholders:

	Three Months Ended June 30, 2024
			Ports and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Adjusted EBITDA	$	22,121	$	12,328	$	(1,502)	$	8,846	$	(2,784)	$	(4,753)	$	34,256
Add: Non-controlling share of Adjusted EBITDA													8,305
Add: Equity in losses of unconsolidated entities													(12,788)
Less: Interest and other costs on pension and OPEB liabilities													138
Less: Dividends and accretion of redeemable preferred stock													(17,610)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities													(3,208)
Less: Interest expense													(29,690)
Less: Depreciation and amortization expense													(21,596)
Less: Incentive allocations													—
Less: Asset impairment charges													—
Less: Changes in fair value of non-hedge derivative instruments													—
Less: Losses on the modification or extinguishment of debt and capital lease obligations													(9,170)
Less: Acquisition and transaction expenses													(921)
Less: Equity-based compensation expense													(1,799)
Less: Provision for income taxes													(267)
Less: Other non-recurring items													—
Net loss attributable to stockholders													$	(54,350)

II. For the Six Months Ended June 30, 2024

	Six Months Ended June 30, 2024
			Ports and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Revenues
Total revenues	$	91,950	$	39,790	$	7,941	$	—	$	—	$	27,741	$	167,422
Expenses
Operating expenses	48,543		37,107		11,769		1,022		7		27,352		125,800
General and administrative	—		—		—		—		—		7,701		7,701
Acquisition and transaction expenses	337		10		—		398		—		1,102		1,847
Management fees and incentive allocation to affiliate	—		—		—		—		—		5,777		5,777
Depreciation and amortization	9,872		24,630		4,924		—		—		1,258		40,684
Total expenses	58,752		61,747		16,693		1,420		7		43,190		181,809
Other (expense) income
Equity in (losses) earnings of unconsolidated entities	—		—		—		(14,373)		(10,338)		21		(24,690)
Loss on sale of assets, net	(163)		—		—		—		—		—		(163)
Loss on modification or extinguishment of debt	—		(9,170)		—		—		—		—		(9,170)
Interest expense	(167)		(20,487)		(388)		—		—		(36,241)		(57,283)
Other income	(352)		3,537		—		5,193		950		—		9,328
Total other expense	(682)		(26,120)		(388)		(9,180)		(9,388)		(36,220)		(81,978)
Income (loss) before income taxes	32,516		(48,077)		(9,140)		(10,600)		(9,395)		(51,669)		(96,365)
Provision for (benefit from) income taxes	2,184		(1,166)		(161)		—		—		1,215		2,072
Net income (loss)	30,332		(46,911)		(8,979)		(10,600)		(9,395)		(52,884)		(98,437)
Less: Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	108		(21,639)		(559)		—		—		—		(22,090)
Less: Dividends and accretion of redeemable preferred stock	—		—		—		—		—		34,585		34,585
Net income (loss) attributable to stockholders	$	30,224	$	(25,272)	$	(8,420)	$	(10,600)	$	(9,395)	$	(87,469)	$	(110,932)

The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to stockholders:

	Six Months Ended June 30, 2024
			Ports and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Adjusted EBITDA	$	43,779	$	19,129	$	(3,185)	$	19,238	$	(4,643)	$	(12,831)	$	61,487
Add: Non-controlling share of Adjusted EBITDA													13,987
Add: Equity in losses of unconsolidated entities													(24,690)
Less: Interest and other costs on pension and OPEB liabilities													(462)
Less: Dividends and accretion of redeemable preferred stock													(34,585)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities													(9,465)
Less: Interest expense													(57,283)
Less: Depreciation and amortization expense													(42,693)
Less: Incentive allocations													—
Less: Asset impairment charges													—
Less: Changes in fair value of non-hedge derivative instruments													—
Less: Losses on the modification or extinguishment of debt and capital lease obligations													(9,170)
Less: Acquisition and transaction expenses													(1,847)
Less: Equity-based compensation expense													(4,139)
Less: Provision for income taxes													(2,072)
Less: Other non-recurring items													—
Net loss attributable to stockholders													$	(110,932)

The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to stockholders:

	Three Months Ended June 30, 2023
			Port and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Adjusted EBITDA	$	20,304	$	7,082	$	(1,636)	$	10,403	$	(1,448)	$	(7,028)	$	27,677
Add: Non-controlling share of Adjusted EBITDA													4,946
Add: Equity in earnings of unconsolidated entities													(1,625)
Less: Interest and other costs on pension and OPEB liabilities													(480)
Less: Dividends and accretion of redeemable preferred stock													(15,257)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities													(6,886)
Less: Interest expense													(24,182)
Less: Depreciation and amortization expense													(20,292)
Less: Incentive allocations													—
Less: Asset impairment charges													(602)
Less: Changes in fair value of non-hedge derivative instruments													—
Less: Losses on the modification or extinguishment of debt and capital lease obligations													—
Less: Acquisition and transaction expenses													(636)
Less: Equity-based compensation expense													(642)
Less: Provision for income taxes													(823)
Less: Other non-recurring items													(51)
Net loss attributable to stockholders													$	(38,853)

IV. For the Six Months Ended June 30, 2023

	Six Months Ended June 30, 2023
			Port and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Revenues
Total revenues	$	83,551	$	36,196	$	2,494	$	—	$	—	$	36,085	$	158,326
Expenses
Operating expenses	47,492		32,415		10,705		597		29		36,699		127,937
General and administrative	—		—		—		—		—		6,903		6,903
Acquisition and transaction expenses	367		36		—		71		1		430		905
Management fees and incentive allocation to affiliate	—		—		—		—		—		6,066		6,066
Depreciation and amortization	10,226		24,013		4,526		—		—		1,662		40,427
Asset impairment	743		—		—		—		—		—		743
Total expenses	58,828		56,464		15,231		668		30		51,760		182,981
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	—		—		—		9,400		(6,693)		34		2,741
(Loss) gain on sale of assets, net	(209)		732		—		—		—		—		523
Interest expense	(2,170)		(15,862)		(1,203)		(3)		—		(28,194)		(47,432)
Other (expense) income	(1,096)		(1,412)		—		2,872		1,227		—		1,591
Total other (expense) income	(3,475)		(16,542)		(1,203)		12,269		(5,466)		(28,160)		(42,577)
Income (loss) before income taxes	21,248		(36,810)		(13,940)		11,601		(5,496)		(43,835)		(67,232)
Provision for income taxes	1,318		350		154		—		—		730		2,552
Net income (loss)	19,930		(37,160)		(14,094)		11,601		(5,496)		(44,565)		(69,784)
Less: Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	46		(19,233)		(753)		—		—		(229)		(20,169)
Less: Dividends and accretion of redeemable preferred stock	—		—		—		—		—		29,827		29,827
Net income (loss) attributable to stockholders	$	19,884	$	(17,927)	$	(13,341)	$	11,601	$	(5,496)	$	(74,163)	$	(79,442)

The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to stockholders:

	Six Months Ended June 30, 2023
			Port and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Adjusted EBITDA	$	37,455	$	13,600	$	(6,497)	$	21,717	$	(3,158)	$	(13,544)	$	49,573
Add: Non-controlling share of Adjusted EBITDA													10,167
Add: Equity in earnings of unconsolidated entities													2,741
Less: Interest and other costs on pension and OPEB liabilities													(960)
Less: Dividends and accretion of redeemable preferred stock													(29,827)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities													(15,076)
Less: Interest expense													(47,432)
Less: Depreciation and amortization expense													(40,427)
Less: Incentive allocations													—
Less: Asset impairment charges													(743)
Less: Changes in fair value of non-hedge derivative instruments													(1,125)
Less: Losses on the modification or extinguishment of debt and capital lease obligations													—
Less: Acquisition and transaction expenses													(905)
Less: Equity-based compensation expense													(1,537)
Less: Provision for income taxes													(2,552)
Less: Other non-recurring items													(1,339)
Net loss attributable to stockholders													$	(79,442)

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

The following tables sets forth the summarized balance sheet. All property, plant and equipment and leasing equipment are located in North America.

	June 30, 2024
			Ports and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Current assets	$	52,658	$	198,019	$	3,301	$	1	$	23,725	$	11,539	$	289,243
Non-current assets	664,714		1,114,978		295,356		6,524		68,242		13,351		2,163,165
Total assets	717,372		1,312,997		298,657		6,525		91,967		24,890		2,452,408
Total debt, net	—		945,810		44,250		—		—		564,064		1,554,124
Current liabilities	47,180		64,801		4,841		1,664		4		19,130		137,620
Non-current liabilities	31,044		1,004,501		47,644		19,334		—		565,781		1,668,304
Total liabilities	78,224		1,069,302		52,485		20,998		4		584,911		1,805,924
Redeemable preferred stock	—		—		—		—		—		359,817		359,817
Non-controlling interests in equity of consolidated subsidiaries	3,364		(110,956)		(572)		—		—		—		(108,164)
Total equity	639,148		243,695		246,172		(14,473)		91,963		(919,838)		286,667
Total liabilities, redeemable preferred stock and equity	$	717,372	$	1,312,997	$	298,657	$	6,525	$	91,967	$	24,890	$	2,452,408

	December 31, 2023
			Ports and Terminals
	Railroad		Jefferson Terminal		Repauno		Power and Gas		Sustainability and Energy Transition		Corporate and Other		Total
Current assets	$	58,114	$	88,542	$	9,267	$	2	$	22,405	$	7,173	$	185,503
Non-current assets	667,501		1,137,510		295,685		6,825		77,540		9,045		2,194,106
Total assets	725,615		1,226,052		304,952		6,827		99,945		16,218		2,379,609
Total debt, net	—		737,335		44,250		—		—		559,325		1,340,910
Current liabilities	54,150		65,052		4,912		828		—		25,695		150,637
Non-current liabilities	55,975		797,854		47,816		29,310		—		559,926		1,490,881
Total liabilities	110,125		862,906		52,728		30,138		—		585,621		1,641,518
Redeemable preferred stock	—		—		—		—		—		325,232		325,232
Non-controlling interests in equity of consolidated subsidiaries	2,861		(74,278)		(13)		—		—		—		(71,430)
Total equity	615,490		363,146		252,224		(23,311)		99,945		(894,635)		412,859
Total liabilities, redeemable preferred stock and equity	$	725,615	$	1,226,052	$	304,952	$	6,827	$	99,945	$	16,218	$	2,379,609